FIRST Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
Business
License
Use high profits to induce investors to invest, eat, drink and play for three months, and deduct 10% of the money within three months. Who has seen this kind of foreign exchange
It was a romance scam. I wanted to withdraw but they rejected it and even blocked my account. I gained little but suffered great losses. Beware of this woman.
Summary: The First broker has received mixed reviews from various sources, highlighting both its competitive offerings and significant concerns regarding its regulatory status and user experience. Key features include high leverage options and a range of asset classes, but users should be cautious due to the broker's unregulated status in several regions.
Note: It's essential to recognize that different entities operate under the "First" name across various jurisdictions, which can impact the overall experience and safety. This review aims to provide a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 3 |
| User Experience | 5 |
| Promotions | 7 |
How We Rate Brokers: Our ratings are based on comprehensive research and analysis of available information regarding the broker's offerings, user experiences, and expert opinions.
First broker, operating under various names such as "First Brokers" and "First Broker FX," was established in 2018. The broker claims to be headquartered in the United Kingdom, but many reviews indicate that it operates without proper regulatory oversight, raising red flags about its trustworthiness. The broker primarily offers trading on the MetaTrader 4 platform, which is widely recognized for its functionality and user-friendly interface.
First broker provides access to a variety of asset classes, including forex, commodities, and indices, catering to a diverse range of traders. However, the absence of clear regulatory oversight from recognized authorities like the FCA or ASIC has led to concerns regarding investor protection and the legitimacy of its operations.
First broker operates in various regions, but it lacks clear regulatory oversight in many of them. According to several sources, including Forexing.com, the broker is not regulated by any major financial authority, which poses significant risks for traders. The lack of regulation means that there are no guarantees for fund protection, and clients may find it challenging to seek recourse in case of disputes.
The broker accepts deposits in multiple currencies, including USD and EUR, and supports various payment methods, such as credit/debit cards, bank wire transfers, and e-wallets like Neteller and Skrill. However, users have reported mixed experiences regarding the speed and reliability of withdrawals, which has been a common concern across reviews.
The minimum deposit requirement for First broker is reported to be around $500, which is relatively high compared to many other brokers that offer accounts with lower minimums. This could be a barrier for new traders looking to start with smaller amounts.
First broker does offer promotional bonuses, which can be appealing to new traders. However, many reviews caution that such bonuses often come with stringent withdrawal conditions, which can complicate the trading experience. According to Forexing.com, these promotions may require traders to meet high trading volume thresholds before being eligible to withdraw any bonus-related profits.
First broker provides access to a diverse range of assets, including forex pairs, commodities, and indices. This variety can attract traders looking for multiple trading opportunities. However, the absence of cryptocurrencies and other emerging asset classes may limit its appeal to some investors.
The broker claims to offer competitive spreads, but the exact figures are not consistently reported across sources. Some reviews indicate that spreads can be tight, but the lack of transparency regarding fees raises concerns. Users have reported hidden fees that can affect overall trading costs, which is a significant factor to consider when evaluating the broker.
First broker offers high leverage options, reportedly up to 1:500, which can be attractive for experienced traders looking to maximize their positions. However, high leverage also comes with increased risk, and new traders may find it challenging to manage their investments effectively under such conditions.
The primary trading platform offered by First broker is MetaTrader 4, which is known for its robust features and user-friendly interface. However, the absence of more advanced platforms like MetaTrader 5 may deter some traders seeking more sophisticated trading tools.
While First broker claims to accept clients from various countries, many reviews suggest that it operates without proper licensing in several regions, which could lead to complications for traders from those areas. It's crucial for potential clients to verify whether they are eligible to trade with First broker based on their jurisdiction.
Customer support appears to be a significant area of concern for First broker, with many users reporting long response times and inadequate assistance. The broker offers support in multiple languages, but the overall quality of service has received mixed reviews.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 3 |
| User Experience | 5 |
| Promotions | 7 |
In conclusion, while First broker offers some competitive features, potential clients should approach with caution due to the broker's lack of regulatory oversight and mixed user experiences. It is advisable to thoroughly research and consider all factors before engaging with First broker.
FX Broker Capital Trading Markets Review
